Florida workers’ compensation insurance laws mandate business owners in most industries carry coverage when they have four or more employees. In construction, however, employers must have workers’ comp even if they have only one employee. According to the most recent data, Florida employers pay $1.30 per $100 of payroll annually for workers’ compensation. If you’re…
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How Does Credit Card Interest Work?
Credit card issuers charge interest if you don’t pay your bill in full each month. It’s typically stated as a yearly rate known as the annual percentage rate (APR). To calculate your interest, divide your APR by 365 (days) to get the daily rate, then multiply your current balance by that rate. There are two…
Payroll Tax vs Income Tax: Are They Different?
The terms payroll tax vs income tax are sometimes erroneously used interchangeably. The payroll tax consists of the employee- and employer-paid Social Security and Medicare taxes; they’re used to fund your employees’ needs during retirement. Income tax is money employees may owe to a federal, state, or local agency based on their total earnings, dependents,…
Unique Selling Proposition: Definition, Examples & Benefits
A unique selling proposition (USP) is the reason your product or service is different from the competition and answers the customer’s question, “Why should I buy your product instead of someone else’s?” Creating one for your business means identifying the factors that set you apart and crafting a message that ties them to your customer’s…
How to Generate Leads Without Cold Calling: 9 Alternative Methods
Cold calling, or phoning a prospect with whom you’ve had no prior contact, is a common technique for developing new sales leads. However, it is not the only effective way to fill sales funnels. These nine tips on how to generate leads without cold calling are perfect alternatives for sales agents and business owners alike….
What Is a Foreign Transaction Fee & How Does It Work?
A foreign transaction fee, also known as an FX fee, is charged by credit card issuers when you use your credit card internationally, or when you make a purchase in foreign currencies. You may also incur a fee when your transaction is routed through a non-US bank. Fees are a percentage of the amount of…
What Is Cash Back & How Does It Work?
Cash back is an incentive credit card issuers typically offer that refunds a small percentage of a cardholder’s purchases. You can apply your cash-back rewards to your credit card bill or redeem them as a check, bank deposit, for merchandise, or for store gift cards. Cash-back rewards usually range between 1% and 6%. Most credit…
QuickBooks for Mac: Best Options for 2020
QuickBooks for Mac is QuickBooks Desktop accounting software specifically designed for business owners who use Mac computers. You can purchase QuickBooks for Mac for a one-time fee of $399.99 and use it to track all of your business finances. Mac users can also use QuickBooks Online versus QuickBooks Desktop. QuickBooks for Mac is packed with…
SBA Disaster Loans: Interest Rates, Qualifications & How to Apply
Small Business Administration (SBA) disaster loans provide businesses with affordable financing for disaster recovery. Businesses, nonprofit organizations, homeowners, and renters are eligible for funding with repayment terms up to 30 years and interest rates starting at 1.75%. Applicants can receive initial funding five days after signing loan closing documents. If you want to apply for…
The Ultimate Guide to Creating a Personal Brand
When someone asks for an expert in your niche, you want your name to be the one that rolls off their tongue. To become the expert people think of right away, you need know how to create your personal brand—but building a personal brand isn’t something that happens overnight. It can take years to build,…
Commercial Package Policy: What CPP Insurance Is & How It Works
A commercial package policy (CPP) is an insurance policy that bundles coverage for various risks and allows business owners to truly tailor their protection. CPPs often combine general liability with property coverage. Costs vary widely based on selected policies and coverage amounts, but getting CPPs usually saves business owners up to 10% on annual premiums….
HVAC Insurance: Types, Costs & Where to Find
HVAC insurance refers to a group of policies business owners in the heating, ventilation, and air conditioning industry are often required to buy. While most states only require bonds, HVAC companies may also need general liability, workers’ compensation, and commercial auto. HVAC insurance costs start at $350 but can exceed $10,000 for large companies. HVAC…